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I didn't sign a contract with the debt collection agency do I have to pay them?
Wiki User
∙ 14y ago
If they bought the debt legally and they can produce the contract you signed with the original creditor, than that's what's called validating your debt. If they are pursuing you you have a couple of options. 1. you can send them a C&D and @. you can request that they validate the debt, that is usually done within 30 days of them initially contacting you.
Wiki User
∙ 14y ago
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Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
Does a debt collector have to send you a monthly bill?
A debt collector works for a collection agency. If the angency owns the debt then you can request statements. A collection agency will send you a paid or settled un full letter. They are not a billing agency.
If something has been sent to collection can the collection agency charge you interest?
If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.
If a second collection agency takes over a unpaid debt can they have that collection put on your report?
Yes the second collection will be placed on the credit report. But they will remove the first collection agency off the report. In some states it is against the law to be double billed by two collection agency for the same debt.
Can a creditor or debt collection agency access your business bank accounts for debt collection?
With a judgment and execution, the sheriff can. Without it no. But the collection agency can never legally access it. However, there are ways to do it illegally. Can the creditor do it... ? If you have a citizens acct and a debt with them, then yes, they can legally access whatever accounts you have with them. But a creditor can't just get access to you bank accounts. (I own a collection agency)
Can debt collection agencies sue in North Carolina?
This is a misnomer. When an account is sent to debt collections, the collection agency does not typically own it. They are simply acting on the part of the lender or creditor. When judgment is sought on a bad debt, it is the lender who is suing. They are perhaps doing so through the collection agency and the lawyer they have under contract, but it is not the collection agency who is suing.
Can a debt be passed from one debt collection agency to another?
Yes - absolutely a debt can be passed from one debt collection agency to another.
Can a debt be transferred from one debt collection agency to another if the original agency is unable to collect payment or if the creditor decides to switch agencies?
Of course it can unless there are provisions in your contract with a collecting agency which make it impossible.
Is it better to pay original creditor who still owns account or debt collection agency who is collecting for original creditor?
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
Is Australia Debt Collection a good collection agency in Sydney?
Australia Debt Collection a good collection agency in Sydney since it offers many services to people.
Once a debt is given to a collection agency can you get the creditor to take it out of the creditor's hands?
Once a debt is handed over to a collection agency, it's typically out of the original creditor's hands. However, it may be possible to negotiate with the creditor to recall the debt from the collection agency, but this process can be challenging and may require convincing the creditor of your ability to repay the debt directly. It's advisable to communicate directly with both the creditor and the collection agency to explore your options and find a resolution.
What is collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
What happens when a collection agency does not honor a settlement agreement?
If this occurs, then they may have violated the Fair Debt Collection Practices Act, or they may have generally breached a contract with you. If the violate the Fair Debt act, then you have a lawsuit against them.
Is it legal for a debt collection agency to discuss your debt with your landlord?
In general, debt collection agencies are required to follow the Fair Debt Collection Practices Act, which prohibits them from discussing your debt with third parties, such as your landlord, without your permission. If a debt collection agency is sharing information about your debt with your landlord without your authorization, they may be violating the law.
In Arkansas can a collection agency sue you if the original creditor accepts payment on the debt?
If the debt was sold to a collection agency and the original creditor accepted payment AFTER the debt was sold, the money does not belong to them. If, however, you paid the debt and it was mistakingly sol after that payment, the collection agency can't try to collect. If you have proof of payment, forward it to the collection agency and deman in writing that they cease trying to collect this debt.
How are work commercial collection agency?
The commercial collection agency is used in debt collection in the event a debtor fails to.
What is commercial collection agency?
A Commercial Collection Agency is and agency that collects debt on behalf of their clients, same as a consumer collection agency, but a commercial collection agency collects business to business.
